Banking and insurance Law

Insurance law notes, insurance contract meaning nature & objective

Marine insurance is an agreement by which the insurance company or under writer agree the indemnify the owner of the ship or the cargo against the risk involved in marine cargo and ship, it covers alarge number of risks such as sinking of ship, burning of ship, sea dacoitee loss from stromy wind etc. Characteristics … Read more

History of the Banking System development, how it come into the world Bank promises buildings behaviorism, India Sahukar was unorganised banking system and thus practice later, banking sector was developed. In kautilya Arthshastra the first traces of banking used to found. In 1600 the britishers came in india and they replaced sahukar with the well … Read more

Kinds of Banks Mainly their are 4 types of Banks based on ownership. But there are many existence of different types of Banks According to their functionary mechanism such following banks mentioned below:- Kinds of banking Central Bank Commercial Banks The two primary characteristics of a commercial bank are lending and borrowing. It’s main aim … Read more

Fire insurance Fire insurance is an agreement where by one party in return for a consideration undertake to indemnify the other party against the financial loss for the goods damaged or destroyed by means of fire. Characteristics of fire insurance’s Contract of indemnity Offer and acceptance Lawful consideration Period of insurance Cause of accident Scope … Read more

How the Banker and Customer relationship exist ? The legal relationship exist between Banker and customers as through various activities and service such as:- General relationship between Banker and customers Creditor- debitor Trustee- beneficiary relationship Principle – agent Leasor – leasee Pledger-pledge Contract of indemnity Hypothecation All above mentioned are the contracts between banker and … Read more